Monday was the day the IRS officially started accepting returns for this year's tax season. There are several reasons to file your taxes early this filing season.

1. Faster refunds: Getting your return in before the IRS and your state revenue department get bogged down can result in a faster refund!
2. Reduce the risk of tax fraud: Tax fraud is a growing prpoblem, and it seems like every year there is another major data breach. File your return before someone else claims your refund.^[1]

File early and avoid the headache of the last minute rush!

Important Dates this Tax Season:
• January 27^th: First Filing Day!
• January 31^st: All 1099 and W2 forms must be issued.
• February 27^th: First day the IRS issues EITC/ACTC^[2] refunds.
• March 16^th: All S-Corp and Multi-Member LLC tax returns must be filed or extended. K-1s must be issued to all partners.
• April 15^th:
• • Tax Deadline! All returns must be filed or extended by this date. All payments must be made, or additional fees may apply.
  • 1^st Quarter 2020 estimated tax payments due.
  • Last day to make 2019 IRA Contributions.
• June 15^th: 2^nd Quarter estimated tax payments due.
• September 15^th:
• • 3^rd Quarter 2020 estimated tax payments due.
  • All extended S-Corp and Multi-Member LLC tax returns must be filed.
• October 15^th: Extended Individual Tax Returns Due.

Extra Credit

^[1]If you want to learn more about tax filing fraud, KerbsOnSecurity has a great article on the topic.

^[2]EITC stands for Earned Income Tax Credit and ACTC is the Additional Child Tax Credit. You can learn more about them and your eligibility from the IRS here.